Stiff

Veterans of Canada’s Atlantic industry administered a stiff dose of realism when the national expert panel on science issues rendered a verdict on technical aspects of plans to open up Pacific coastal waters offshore of British Columbia to natural gas development.

El Paso Corp.’s proposed Copper Eagle gas storage project is facing the equivalent of a public stoning in Arizona even before the company decides to move forward with a FERC filing. But El Paso spokeswoman Kim Wallace said the project isn’t dead yet, and is sorely needed in the Southwest where there are only a few storage fields, none of which are in Arizona.

El Paso Corp.’s proposed Copper Eagle gas storage project is facing the equivalent of a public stoning in Arizona even before the company decides to move forward with a FERC filing. But El Paso spokeswoman Kim Wallace said the project isn’t dead yet, and is sorely needed in the Southwest where there are only a few storage fields, none of which are in Arizona.

Pressure from within and outside the Senate grew last week to either defeat or bury a controversial amendment to the omnibus energy bill (S. 517) that seeks to regulate the trading of over-the-counter (OTC) energy and metals derivative transactions.

Without ever once mentioning the financial collapse or scandal that has pervaded Enron Corp., President Bush last Thursday called on federal regulators to mete out stiffer punishments to corporate officers who abuse their positions and provide “grossly inaccurate” information to investors. Bush also said he favored the creation of an independent board to oversee the accounting profession.

Without ever once mentioning the financial collapse or scandal that has pervaded Enron Corp., President Bush Thursday called on federal regulators to mete out stiffer punishments to corporate officers who abuse their positions and provide “grossly inaccurate” information to investors. Bush also urged regulators to create an independent board to oversee the accounting profession.

The struggle experienced by some electronic trading systems in the face of stiff competition from IntercontinentalExchange, EnronOnline, TradeSpark and other systems isn’t stopping E-lecTrade from launching its own power trading system this summer. The system is unique, however, in its effort to provide multiple structured power transaction types and risk management services real time and on an anonymous basis.

An advocate of stiff pipeline safety laws, Rep. James L.Oberstar (D-MN) last week said he was “generally supportive” of therecent move by the Department of Transportation’s Office ofPipeline Safety’s (OPS) to toughen the requirements for safetyinspections of large hazardous liquid pipelines. But he believesPresident Clinton’s decree to the agency to beef up the safetystandards for small liquid and natural gas pipelines came up short.

An advocate of stiff pipeline safety laws, Rep. James L.Oberstar (D-MN) said he was “generally supportive” of the recentmove by the Department of Transportation’s Office of PipelineSafety’s (OPS) to toughen the requirements for safety inspectionsof large hazardous liquid pipelines. But he believes PresidentClinton’s decree to the agency to beef up the safety standards forsmall liquid and natural gas pipelines came up short.